CANADA STOCKS-TSX rises as financials, Shaw Communications gain

Reuters Staff

2 Min Read

April 12 (Reuters) - Canada’s main stock index was higher on Thursday, helped by gains in financial stocks and a jump in Shaw Communications’ shares after the company posted a better than expected profit.

* Shaw Communications provided the biggest boost to the index with a 10 percent rise. The telecom services company beat second-quarter profit expectations as wireless subscribers more than doubled from a year ago.

* The financial sector, which makes up for more than a third of the index, rose 0.4 percent.

* Tensions around Syria eased after Trump amended an earlier warning of a quick military strike against the country in retaliation for a suspected chemical weapons attack on civilians, saying it “could be very soon or not so soon at all”.

* Wall Street opened higher on expectations of a strong corporate earnings season and easing of nerves over Syria conflict.

* Oil and gold prices slipped after peaking on Wednesday but geopolitical worries and trade concerns kept further losses at bay.

* Brent crude futures were down 47 cents at $71.59 a barrel after hitting their highest since 2014 at $73.09 on Wednesday.

* The TSX posted one new 52-week highs and two new lows. Across all Canadian issues there were two new 52-week highs and nine new lows.

* Neovasc Inc, Aurora Cannabis and Centric Health were among the most active Canadian stocks by volume.

* Data showed prices of new home in Canada fell 0.2 percent in February, the first decrease since July 2010 as recent higher interest rates and tighter mortgage regulations put a damper on the market. (Reporting by Medha Singh in Bengaluru Editing by Saumyadeb Chakrabarty)